Agent Provocateur’s profit before taxes more than doubled in the last financial year, driven by an increase in store sales and international expansion.
Revenue rose from £1.7m to £3.8m to March 2013, as the lingerie company opened 11 new stores in Europe, Australia, Asia, the US and Canada.
The launch of Agent Provocateur’s diffusion range L’Agent in collaboration with Penelope Cruz last July is also thought to have supported growth.
Current trading remains positive with total turnover up 25% on previous year, and like-for-like retail sales up 8%. The online channel continues to grow, with sales up 23% on the previous year.
Agent Provocateur CEO Garry Hogarth said: “Agent Provocateur continues to perform well despite the continued global economic uncertainty. The strength of the brand and business will allow us to continue to focus on our strategy of international expansion and development.”
Agent Provocateur operates 88 boutiques worldwide and is on track to open new stores in Chengdu, San Francisco and Los Angeles in early 2014.